Reputation Is Everything In Business
Being a small business owner can feel overwhelming at times. So many hats ? to wear with time and cashflow against you.
An observation over the years is the reality of procrastination when it comes to business financial compliance. When you are trying to deliver your product or service, bookkeeping and financial management might move to the “later” list. Unfortunately, this can harm your business in the long term, late compliance with Inland Revenue (Tax Authority) results in fines, late payments to suppliers may result in stop credit.
Reputation both externally and internally with staff is everything in business.
Key Points:
1) be your own best client
2) know your financials
3) stay compliant with Tax Authority
4) have a budget
5) prepare cashflow forecast
6) ask for help
7) look after yourself